In a noteworthy development for the cryptocurrency sector, Nate Geraci, President of The ETF Store, has confirmed that the U.S. Securities and Exchange Commission (SEC) has received the 19b-4 application for the Hashdex Nasdaq Crypto Index US ETF. This ETF aims to include both spot Bitcoin and Ethereum, providing direct exposure to these major cryptocurrencies.
Application Details
The 19b-4 application, essential for any ETF aspiring to list on a significant exchange, has been submitted by Hashdex in collaboration with Nasdaq. According to Geraci, the inclusion of both spot Bitcoin and Ethereum is expected to attract substantial interest from investors, offering them a unique opportunity to diversify their portfolios with leading digital assets.
Approval Timeline
The SEC’s decision on the application is expected around the first week of March 2025. This period allows the SEC ample time to thoroughly review the application, assessing its potential market impacts and compliance with regulatory standards.
Market Impact
Approval of the Hashdex Nasdaq Crypto Index US ETF would be a landmark event for the cryptocurrency market. The ETF’s structure, incorporating both spot Bitcoin and Ethereum, distinguishes it from many existing products that rely on derivatives or futures. This direct exposure is likely to appeal to a broad spectrum of investors, including institutional participants.
Industry Reactions
The news has generated significant buzz within the crypto community. Analysts suggest that the approval of such an ETF could spur further institutional investment in cryptocurrencies, enhancing market liquidity and stability.
Conclusion
As the SEC reviews the application, stakeholders across the financial and cryptocurrency sectors will be watching closely. The potential approval of the Hashdex Nasdaq Crypto Index US ETF could signal a new era of crypto investment opportunities in the U.S.
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